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04-02-2019
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(blank) is the type of competition that occurs in a competitive market without identical producers.

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04-02-2019

Monopolistic competition that occurs in a competitive market without identical producers. Correct answer: A

The products or services that are offered by many firms many firms offer are similar, but not perfect substitutes. In this type of market and competition firms have price inelastic demand and they are price makers because the good is highly differentiated.

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